Actions to be taken to restore stability
Thursday, 9 December 2010
Mohammad Mufazzal
The government will take necessary actions to bring stability in an overheated market, said Dr. Mashiur Rahman, the economic affairs advisor to the Prime Minister, giving his reaction to the FE on the day's developments in Dhaka Stock Exchange (DSE).
He said the government will take necessary measures to restore stability in the market.
Meanwhile, the Securities and Exchange Commission (SCE) said that it would soon carry out investigation into Wednesday's fall in stock prices, terming it as an "unprecedented one".
The SEC, in an immediate reaction to the stock market developments, said they have taken the matter very seriously as it has given rise to serious frustration among investors.
"The investors will have to remember that the stock market is a place of risks. So they will have to understand the risks involved in making investment in an overheated market," Rahman said.
"I hope the market will be stable within two to three days," he added.
"The fall in stock prices within such a short time was unprecedented in the history of the country's stock market," SEC Chairman Ziaul Haque Khondker told the newsmen.
"The regulator will look into the reasons which forced the market behaving erratically. At the same time investors should also understand the risks involved in imprudent investment," the SEC chairman added.
However, the SEC chairman refused to make any comment on the time- gap in delivering two directives regarding misuse of netting facilities and account payee cheques.
DSE President Shakil Rizvi is now abroad but Senior Vice-President Mohammed Nasir Uddin and Vice President Rafiqul Islam were not available to make comment on Wednesday's development.
DSE Chief Executive Officer (CEO) Satipati Moitra also refused to talk to the newsmen when they gathered at DSE office.
The government will take necessary actions to bring stability in an overheated market, said Dr. Mashiur Rahman, the economic affairs advisor to the Prime Minister, giving his reaction to the FE on the day's developments in Dhaka Stock Exchange (DSE).
He said the government will take necessary measures to restore stability in the market.
Meanwhile, the Securities and Exchange Commission (SCE) said that it would soon carry out investigation into Wednesday's fall in stock prices, terming it as an "unprecedented one".
The SEC, in an immediate reaction to the stock market developments, said they have taken the matter very seriously as it has given rise to serious frustration among investors.
"The investors will have to remember that the stock market is a place of risks. So they will have to understand the risks involved in making investment in an overheated market," Rahman said.
"I hope the market will be stable within two to three days," he added.
"The fall in stock prices within such a short time was unprecedented in the history of the country's stock market," SEC Chairman Ziaul Haque Khondker told the newsmen.
"The regulator will look into the reasons which forced the market behaving erratically. At the same time investors should also understand the risks involved in imprudent investment," the SEC chairman added.
However, the SEC chairman refused to make any comment on the time- gap in delivering two directives regarding misuse of netting facilities and account payee cheques.
DSE President Shakil Rizvi is now abroad but Senior Vice-President Mohammed Nasir Uddin and Vice President Rafiqul Islam were not available to make comment on Wednesday's development.
DSE Chief Executive Officer (CEO) Satipati Moitra also refused to talk to the newsmen when they gathered at DSE office.